Applied Therapeutics, Inc. announced that it has entered into a securities purchase agreement for issuance of 12,285,714 common shares at a price of $7 per share for gross proceeds of $85,999,998, and 2,000,000 pre-funded warrants at a price of $6.999 per warrant for gross proceeds of $13,998,000, for aggregate gross proceeds of $99,997,998 on February 27, 2024. The warrants are exercisable into common shares. The private placement is expected to close on or about March 1, 2024, subject to the satisfaction of customary closing conditions.

The transaction included participation from new and existing investors including Perceptive Advisors LLC, Janus Henderson Group plc, Venrock Healthcare Capital Partners Fund, L.P.; a fund managed by VR Adviser, LLC, Adage Capital Management, L.P., Frazier Life Sciences Management, LP, Logos Capital, Vestal Point Capital, LP, Rock Springs Capital Management LP.